Equity Analysis /

AU : Rio Tinto - Feedback from analyst roundtable

    Adrian Prendergast
    Adrian Prendergast

    Senior Analyst - Mining and Energy

    25 November 2021
    Published by

    Years of significant underspend in the Pilbara have caught up with RIO with current issues now looking more long term. We boost long-term Pilbara sustaining capex and SP10 volume assumptions. Added red tape post Juukan Gorge and COVID travel restrictions add extra risk. Lifting long-term sustaining capex and SP10 volumes has seen our valuation-based target price reduced to A$104 (from A$112). Hold maintained